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Bayer Sells €1M of Stake in Covestro

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By: Anthony Locicero

Copy Editor, New York Post, Rodman Media

Bayer’s stake in Covestro is under 25 percent after selling €1 million ($1.2M) of its shares, according to Reuters. 

Bayer is trying to complete a $66 billion take over of Monsanto  by year’s end, per Reuters.

Bayer had already sold three separate blocks of shares in Covestro this year for €3.7 billion, Reuters reported.

 
“Through the move, we have taken a major step toward our goal of achieving full separation from Covestro in the medium term,” Chief Executive Werner Baumann said in a statement.
 
Bayer MaterialScience began operating under the Covestro name back on Sept. 1, 2015. 





Photo courtesy Bayer.com

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